Oppenheimer & Co. Inc. Lowers Position in Copart, Inc. (NASDAQ:CPRT)

Oppenheimer & Co. Inc. cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,152 shares of the business services provider’s stock after selling 602 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Copart were worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in shares of Copart during the 3rd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Copart during the 3rd quarter worth $33,000. True Wealth Design LLC grew its holdings in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the period. Continuum Advisory LLC grew its holdings in shares of Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after purchasing an additional 452 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Copart during the 4th quarter worth $54,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of Copart stock opened at $55.23 on Friday. The business has a 50-day moving average of $57.69 and a 200 day moving average of $55.82. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The stock has a market capitalization of $53.22 billion, a price-to-earnings ratio of 37.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares in the company, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 398,790 shares of company stock worth $23,161,540 in the last three months. 9.68% of the stock is owned by company insiders.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.